AGF’s COVID-19 Preparedness Response


May 12, 2020
Update to Statement Dated March 27, 2020


AGF’s COVID-19 Preparedness Response

As previously communicated, AGF has taken specific measures to ensure business continuity and the protection of our employees around the world in light of the rapidly evolving situation related to the novel coronavirus: COVID-19. We can confirm we have experienced no impact to our business operations to date and no instances of business operations interruption.

To maintain our business-as-usual operations and importantly to protect the health and safety of our employees, clients and communities the following measures remain in place:

  • We currently have less than 20 employees, or 3%, who continue to perform critical functions out of primary and secondary office locations in Ontario, including functions such as Call Centre and Operations staff.
  • Outside of Ontario, the following locations currently have 100% of employees working remotely-
    • Vancouver, BC, Canada
    • Calgary, AB, Canada
    • Montreal, QC, Canada
    • Boston, Massachusetts, USA
    • Dublin, Ireland
    • Singapore
  • Existing business travel bans and bans on participation in external conferences and events remain in place until further notice.

Our executive team has turned our attention to refining our back-to-office plan. At this time we have no definitive date for our return to each of our offices and are awaiting further guidance from local Government and Public Health agencies. However, in preparation for the repatriation of AGF employees, we have identified the following guiding principles, in priority order, as critical to our planning and activities:

  1.  Employee physical safety will be paramount. We will ensure all of our facilities meet the   recommendations of local Government and Public Health agencies before allowing return.

  2. Employee mental health will be top of mind. As our current capabilities are allowing us to operate effectively, we have no need to rush back and any return will be gradual and measured. We will also be accepting and supportive of the personal and family health, public transit, and child education/day care constraints of our employees.

  3. As an essential service we must maintain the ability to meet and exceed client service needs. Preference, priority and any declaration of mandatory presence in the office will consider these needs.

  4. Culturally we must provide the capability to ensure ongoing collaboration and teamwork in a mixed at home and at work environment, so no employee feels disadvantaged by their present choice.

Our employees have proven we can effectively work from home and by embracing technology, have also found new ways to do things finding efficiency and benefits in this environment.

Thank you for your ongoing support during this uncertain time. We will continue to carefully monitor developments both at home and abroad. Should the need arise, we will be quick to update you further.

Before investing you should carefully consider each Fund's investment objectives, risks, charges and expenses. This and other information is in the Fund's prospectus. Please read the prospectus carefully before you invest. Click here for prospectus.

Risks: There is no guarantee that the Funds will achieve their objective. An investment in the Funds is subject to risk including the possible loss of principal amount invested. The risks associated with each Fund are detailed in the prospectus and include, but not limited to, tracking error risk, mid-cap risk, industry concentration risk, market neutral style risk, short sale risk and specific risks related to exchange traded funds. There is a risk that during a “bull” market, when most equity securities and long only ETFs are increasing in value, the Funds’ short positions will likely cause the Fund to underperform the overall U.S. equity market and such ETFs. The Fund may not be suitable for all investors.

AGFiQ Dynamic Hedged U.S. Equity ETF (USHG) specific risks: The Fund’s hedging strategies against declines in security prices, financial markets, exchange rates and interest rates may not be successful, and even if they are successful, the Fund’s exposure to a certain risk may not be fully hedged at all times and the Fund may still lose money on a hedged position. The risks of investing in securities of ETFs typically reflect the risks of the types of instruments in which the underlying ETF invests. To the extent the Fund invests significantly in the AGFiQ U.S. Market Neutral Anti-Beta Fund, which is also managed by the Adviser (the “Market Neutral ETF”), it will be subject to the following risks applicable to investing in the Market Neutral ETF: There is a risk that during a “bull” market, when most equity securities and long only ETFs are increasing in value, the Market Neutral ETF’s short positions will likely cause the Market Neutral ETF to underperform the overall U.S. equity market and such ETFs. These securities may be more volatile than a broad cross-section of securities, and momentum may be an indicator that a security’s price is peaking. The value of an investment in the Market Neutral ETF may fall, sometimes sharply, and you could lose money by investing in the fund. The Market Neutral ETF may utilize derivatives and as a result, the Market Neutral ETF could lose more that the amount it invests. When utilizing short selling the amount the Market Neutral ETF could lose on a short sale is potentially unlimited because there is no limit on the price a shorted security might attain.

AGFiQ Global Infrastructure ETF (GLIF) specific risks: The Fund’s investments in infrastructure-related securities will expose the Fund to potential adverse economic, regulatory, political, legal and other changes affecting such investments. Rising interest rates could lead to higher financing costs and reduced earnings for infrastructure companies. Investments in foreign securities involve risks that differ from investments in securities of U.S. issuers because of unique political, economic and market conditions. Investments in securities of issuers located in emerging market economies (including frontier market economies) are generally riskier than investments in securities of issuers from more developed economies. Investing in securities that trade in and receive revenues in foreign currencies creates risk because foreign currencies may decline relative to the U.S. dollar, resulting in a potential loss to the Fund.

Shares are not individually redeemable and can be redeemed only in Creation Units. The market price of shares can be at, below or above the NAV. Brokerage commissions will reduce returns. Market Price returns are determined based on the midpoint of the bid/ask spread calculated based on a price within the range of the highest bid and lowest offer on the principal U.S. market on which the Fund’s shares are traded during a regular trading session. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.

Distributor: Foreside Fund Services, LLC

This website should not be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Nothing on this website is intended to be investment, tax, financial or legal advice.

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